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Ebay needs a "third party" coin authentication middleman service....

ambro51ambro51 Posts: 13,949 ✭✭✭✭✭
OK? a coin is sold. It goes FIRST to the authentication service, hopefully a union between ANACS and ebay...and then after 'approval it is sent to the buyer. All expididted..
how exactly the shipping, I suppose seller would send to the service with an address, and then the service would send direct to the buyer.

If it is a fake, it is either returned to the seller or sent to the secret service.

All coins over a pre determined value, and sold RAW, will be subject to the inspection. How charges are covered...yet to be determined. BUT, it would add credibility to ebay, assist both the seller and buyer, and really help Clean Up The Act...just by sellers of counterfeits KNOWING this is in place.

Comments

  • BBNBBN Posts: 3,761 ✭✭✭
    interesting idea.

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  • pmacpmac Posts: 3,189 ✭✭✭
    Who pays the middleman, surely not EBAY?
    Paul
  • TwoSides2aCoinTwoSides2aCoin Posts: 44,623 ✭✭✭✭✭


    << <i>OK? a coin is sold. It goes FIRST to the authentication service, hopefully a union between ANACS and ebay...and then after 'approval it is sent to the buyer. All expididted..
    how exactly the shipping, I suppose seller would send to the service with an address, and then the service would send direct to the buyer.

    If it is a fake, it is either returned to the seller or sent to the secret service.

    All coins over a pre determined value, and sold RAW, will be subject to the inspection. How charges are covered...yet to be determined. BUT, it would add credibility to ebay, assist both the seller and buyer, and really help Clean Up The Act...just by sellers of counterfeits KNOWING this is in place. >>




    How about eBay just sell their numismatic division to a company with a little more ummmph ?
  • PerryHallPerryHall Posts: 46,885 ✭✭✭✭✭
    Good idea. Sort of like an escrow service for the merchandise rather than the money. Sellers could offer it as an optional service for a small fee.

    Worry is the interest you pay on a debt you may not owe.
    "Paper money eventually returns to its intrinsic value---zero."----Voltaire
    "Everything you say should be true, but not everything true should be said."----Voltaire

  • notwilightnotwilight Posts: 12,864 ✭✭✭


    << <i>... All expididted..
    how exactly the shipping, I suppose seller would send to the service with an address, and then the service would send direct to the buyer.

    ....

    How charges are covered...yet to be determined. >>




    That's not a big issue...nor is the time delay!!!image
  • PlacidPlacid Posts: 11,299 ✭✭✭
    Why not just only allow the sale of certified coins under the same conditions instead?
  • ambro51ambro51 Posts: 13,949 ✭✭✭✭✭
    realistically...selling certified coins...finding counterfeit slabs....very low percentage. Maybe all sales from China? Ebay holds money in escrow...in fact making interest on it for a period...since its not a grading, or encapsulation, just an authenticity check, the fees could be small if it could be handled in bulk, with the grader doing little of the work.

    it would take some detail work...but the idea, sure would have helped ME a few times
  • PlacidPlacid Posts: 11,299 ✭✭✭
    So if I put a pcgs graded coin on eBay it would have to be recertified after the sale incase its a fake holder?

    What if you do that and the service eBay uses gives the coin a different grade?

    Same with a raw coin, seller says coin is a ms63 and the grading service says 64 or 62 then what happens?
  • dbcoindbcoin Posts: 2,200 ✭✭
    I thought this was already out there and its called Teletrade?
  • dohdoh Posts: 6,457 ✭✭✭
    Whaaaaaat? No offense, but I find this completely unnecessary. It would just muck everything up. If you don't want to take a chance then don't buy raw on eBay or don't buy coins on eBay period.

    This extra third party service would just be complained about and people would find a way around it. God knows eBay would never go for it.
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  • 291fifth291fifth Posts: 24,709 ✭✭✭✭✭
    Zero chance of happening. Costs would be through the roof.
    All glory is fleeting.
  • llafoellafoe Posts: 7,220 ✭✭
    Why ANACS? Would they just authenticate the coin... not slab the coin?
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  • notwilightnotwilight Posts: 12,864 ✭✭✭
    An easier solution that wouldn't cost any more (probably less) and wouldn't result in a delay after the sale would be to just say "No raw coins". All coins have to be in a holder from an approved TPG. Of course this would increase the demand for fake slabs for the bad guys. --Jerry
  • dohdoh Posts: 6,457 ✭✭✭


    << <i>An easier solution that wouldn't cost any more (probably less) and wouldn't result in a delay after the sale would be to just say "No raw coins". >>


    I assume you mean "no raw coins over a certain dollar amount." And even then there would be a huge uproar about this by the coin collecting community.
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  • notwilightnotwilight Posts: 12,864 ✭✭✭


    << <i>

    << <i>An easier solution that wouldn't cost any more (probably less) and wouldn't result in a delay after the sale would be to just say "No raw coins". >>


    I assume you mean "no raw coins over a certain dollar amount." And even then there would be a huge uproar about this by the coin collecting community. >>



    I'm not promoting this, just commenting on the OP. --Jerry
  • PerryHallPerryHall Posts: 46,885 ✭✭✭✭✭
    How would a "Slabbed coins only" policy help as the chinese perfect their fake slabs? Any authentication service would be optional. If the coin is a circ 14-D cent or 16-D dime, this service would make sense.

    Worry is the interest you pay on a debt you may not owe.
    "Paper money eventually returns to its intrinsic value---zero."----Voltaire
    "Everything you say should be true, but not everything true should be said."----Voltaire

  • EagleEyeEagleEye Posts: 7,677 ✭✭✭✭✭
    I think the reason eBay works for non-dealer sellers is that they don't have to go through any "experting" service. Not saying its good, just that eliminating inefficiencies for the seller is built into their business model.
    Rick Snow, Eagle Eye Rare Coins, Inc.Check out my new web site:
  • HoledandCreativeHoledandCreative Posts: 2,832 ✭✭✭✭✭
    Aren't buyers protected if something is wrong with the purchase?
    If counterfeit or improperly described, then Paypal takes money into escrow until resolved? If we don't recognize the fact that a coin isn't the real thing and keep it, that is one of life's little experiences that we all get to partake? The tpg make mistakes as well. We can't know everything. Personally, I like the thrill of the chase, and if some prospective buyers don't want to bid, then I get to reap the rewards more often. I have not had trouble returning coins that need to be.
  • mrpotatoheaddmrpotatoheadd Posts: 7,576 ✭✭✭


    << <i>...nor is the time delay!!!image >>

    No kidding. How often do you see posts here complaining about how long it takes to get coins back from the TPGs? And you want to do the same sort of thing (send coins to a third party) on eBay, where buyers start whining if they don't get their coins in three days as it is? Yeah, that'll work real well.

    edited to add.. if you think raw coins are a risk how about if you just don't bid on them?
  • GrumpyEdGrumpyEd Posts: 4,749 ✭✭✭
    Maybe it could be a service offered by a TPG?


    Ed
  • johnny9434johnny9434 Posts: 29,301 ✭✭✭✭✭


    << <i>Who pays the middleman, surely not EBAY? >>



    why not ebay and the seller. sinse both are involved together ( ok, the buyer has 1/3rd stake in it )
  • mrpotatoheaddmrpotatoheadd Posts: 7,576 ✭✭✭


    << <i>

    << <i>Who pays the middleman, surely not EBAY? >>



    why not ebay and the seller. sinse both are involved together ( ok, the buyer has 1/3rd stake in it ) >>

    Why not the person who's apparently demanding the service- the buyer?

    Yeah, I know- expecting people to accept financial responsibility for the services they desire to have provided for them is a tall order these days, but one can always dream...

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